By Patrick Idowu
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has revealed that President Bola Tinubu inherited an economy on the brink of collapse but is steadily reversing the decline through bold reforms.
Speaking before the Senate Committee on Appropriations on the 2025 Appropriation Bill, Edun highlighted the administration’s efforts in fiscal recovery, revenue growth, and economic stabilization.
“The administration inherited an economy on the brink, but through targeted reforms, we are now on a recovery path,” he stated, citing over 3% GDP growth in the past year as evidence.
Edun, alongside Budget and Economic Planning Minister Abubakar Bagudu, reviewed the 2024 budget, revealing a 43% overall performance, with recurrent expenditure fully implemented but capital expenditure lagging at 25%.
To address this, he announced an extension of capital expenditure implementation until June 30, 2025, ensuring continued project funding.
“Our macroeconomic reforms are delivering results, and consistent revenue growth will drive our developmental goals,” Edun assured, emphasizing the government’s commitment to job creation, investment growth, and economic stability for all Nigerians.
